Resource Alam Indonesia Valuation

Q: What is the Fair Price of KKGI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

KKGI (IDR525) is trading below our estimate of [[fair value]] (IDR2153.13)

Is KKGI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KKGI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KKGI (IDR525) is trading below our estimate of fair value (IDR2153.13)

Significantly Below Fair Value: KKGI is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KKGI?

Key metric: As KKGI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KKGI. This is calculated by dividing KKGI's market cap by their current earnings.
What is KKGI's PE Ratio?
PE Ratio	4.3x
Earnings	US$37.59m
Market Cap	US$160.26m

KKGI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.3x
Enterprise Value/EBITDA	1.5x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does KKGI's PE Ratio compare to its peers?

The above table shows the PE ratio for KKGI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	32.7x
UNIQ Ulima Nitra	32x	n/a	Rp2.1t
MAHA Mandiri Herindo Adiperkasa	8.2x	n/a	Rp3.0t
SMMT Golden Eagle Energy	21.1x	n/a	Rp2.3t
DOID Delta Dunia Makmur	69.6x	n/a	Rp5.0t
KKGI Resource Alam Indonesia	4.3x	n/a	Rp2.5t

Price-To-Earnings vs Peers: KKGI is good value based on its Price-To-Earnings Ratio (4.3x) compared to the peer average (32.7x).

Price to Earnings Ratio vs Industry

How does KKGI's PE Ratio compare vs other companies in the ID Oil and Gas Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
CNKO Exploitasi Energi Indonesia	1.7x	n/a	US$3.95m

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: KKGI is good value based on its Price-To-Earnings Ratio (4.3x) compared to the ID Oil and Gas industry average (8x).

Price to Earnings Ratio vs Fair Ratio

What is KKGI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KKGI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	4.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate KKGI's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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